Denmark prioritizes promoting economic cooperation

(VEN) - Danish Ambassador to Vietnam Charlotte Laursen said that she would promote economic cooperation, trade and investment between the two countries during her tenure in Vietnam. Denmark remains one of the leading European countries providing the largest grants for Vietnam.

Danish Ambassador to Vietnam Charlotte Laursen

Economic cooperation, a key task

Charlotte Laursen said that Denmark and Vietnam would step forward more effective cooperation in the future and she would make greater efforts to deepen the friendship between the two countries as well as promote the comprehensive partnership.

Two-way trade turnover has increased by nearly 100 percent since 2010. This figure will rapidly increase in the coming time thanks to the EU-Vietnam Free Trade Agreement (EVFTA) due to be signed.

According to the Ministry of Planning and Investment, Denmark ranked 26th among the 103 countries and territories investing in Vietnam by May 2015 with 114 projects for total capital of US$707.89 million. More than 130 Danish companies have been present in Vietnam focusing on furniture, garments and textiles, energy efficiency, environment (clean technology), information and communications technology, electronics, software, transport, logistics, food safety and health.

She also recommended that Denmark’s leading companies in green growth, food safety and clean water met Vietnam’s development demand. However, to attract more investment capital from Denmark, Vietnam needs to make major changes in administrative, legal and educational reforms while maintaining economic growth.

Providing ODA capital for Vietnam

Denmark and Vietnam have experienced the long-term relationship on the basis of close cooperation and mutual trust. Denmark has financed US$1.3 billion in official development assistance (ODA) for Vietnam since 1994 and has been one of Vietnam’s biggest bilateral ODA providers in the EU. In particular, Denmark has supported Vietnam in achieving impressive economic growth in seafood, energy, water resource management, public administration and private sector.

Almost all development assistance projects and programs from Denmark will terminate at the end of this year. Some of green growth, climate change and environment projects will continue to be implemented by 2017. The Vietnamese Ministry of Industry and Trade and Danish Ministry of Energy, Utilities and Climate signed a cooperation agreement to exchange climate change information. In addition, Denmark will support loans with low interest rates for Vietnamese organizations.

Danish Ambassador to Vietnam Charlotte Laursen recently presented credentials to Vietnamese President Truong Tan Sang and officially became the first Danish woman ambassador to Vietnam. She hoped that her tenure would see strong growth in trade and investment between the two countries with a focus on cooperation in terms of green growth, climate change mitigation, environmental protection, education and training, culture, food safety and hygiene and clean energy.